Wednesday, April 16, 2003

Churchill alters policy on wagering

The Associated Press

LOUISVILLE - Churchill Downs Inc.'s racetracks will return to normal wagering cutoff times and accept pari-mutuel wagers until the official start of on-track and simulcast races, the company said Tuesday.

Last November, the company decided to close wagering on its races at zero minutes to post, or about 90 seconds before horses were loaded into the starting gate.

The change was meant to address concerns about late-changing odds, which arose as a result of a Breeders' Cup betting scandal.

Since then, tote vendors processing pari-mutuel wagers have made improvements to their security systems and have reduced the time to transmit wagering data from simulcast sites to racetrack tote hubs, said John R. Long, CDI's executive vice president and chief operating officer.

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